Cable Update (GBPUSD)

Still clueless referring to US Dollar!! on a particular pair.

never did that but if i had to i wouldn't want to do it with a man standing behind me. You Freak

See you Sunday homie, I got my girl with me, she's about to get it.

GBP/USD: Holding sub-2.0870/75 as Rumuours Swirl London, November 2. Cable is holding south of the 2.0870/75 resistance window as rumours swirl re: the BoE, Mervyn King and Northern Rock. There is also a rumour of a possible $13bn write-down at a US investment house.

FOREX: Strauss-Kahn Says Decline in Overvalued USD No Surprise San Francisco, Nov. 2. Europeans appear less than worried over USD weakness with ECB Quaden saying only two days ago that the USD exchange rate could face more pressure. This morning, IMF Strauss Kahn is on the wires saying that the declines in the overvalued USD are no surprise and that oil prices could tip the US into recession. He adds that he does not expect the EUR to increase or decrease. EUR/USD currently trades at 1.4487, supported by the bounce in US stocks after the DJIA pared morning losses with the DJIA now down 27 pts. EUR/JPY has bounced from 165.80, just failing to take out downside stops under 165.75/80, and now trades at 166.27

I just need this baby to hit 2.0875 and it can go where it wants sentiments are bearish and a close below 2.0765 could be good for the bears but take note that today is Friday and the news that came out today, could make for a different market altogether on Mon.

Just my 2c

People are glad this thread is alive again. Why? Is anyone reading most of the garbage posted today?

i`ll try 4 2.0875 4 you! lol

Haha, thks but it bounced off the daily pivot at 2.0799

i see people took good profit today...

no thanx to me for releasing this number?

i thought since dollar needed some strengthening a fake NFP number would be suitable.

GBP/USD: King said to Favour "Cautious" Policy Approach London, November 2. Market News is reporting that BoE Governor Mervyn King believes the MPC should adopt a "cautious" approach to setting interest rates in the months ahead. Following recent hawkish comments from BoE Chief Economist Charlie Bean and MPC member Kate Barker, this underpins the consensus expectation that the UK base rate will be held at 5.75% next week (Nov 8).
Northern Rock"s chairman Bryan Sanderson, meanwhile, reportedly believes that the cumulative size of NR"s emergency borrowing from the BoE could soon reach GBP 25.0bn (Newcastle Journal/Reuters). NR has so far borrowed a cumulative GBP 22.8bn from the BoE.

sorry, my dad said no, to leading me any more money lol

FX OPTIONS: Daily Overview - Post Jobs Data Madness London, November 2. Much stronger than forecast US jobs data (166k vs 85k f/cast and 110k previous) prompted a very erratic spot reaction - EUR/USD dropped from 1.4490-1.4450 initially, but then broke Tuesday"s 1.4508 peak to make a new record high at 1.4525, before falling back. Vols easing in the front end of the curve - 1m atmf given 7.45-7.35 in the morning but later given 7.2. 2wk date very active and trading various strikes across the market - 1.4315"s from 8.55-8.25 over the day. 6m 25d r/rev traded 0.275 and 1yr 0.3 EUR puts. Spot Cable ended up testing yesterday"s new 26yr high @ 2.0875, after initial losses through 2.08 post jobs data. 1m atmf active at 7.1 again today. 1m r/rev saw strong German name demand at 0.5. 6m 2.20"s @ 7.5. Talk barriers at 2.0900 - we have some for 14 Nov expiry, but defence ahead of the level suggests some likely maturities at this level next week. Spot USD/JPY gained around 80pts to mid 115"s after the NFP"s but quickly back to/through the figure. Vols eased - 1m given 9.2 from 9.5 and then saw better bids re-emerge. 6m atmf given 8.1 in good size. Big German name buyer 24 Jan 112.50 JPY call @ 9.4 in USD 1bln. 07 Dec 105.00 (5d) very active at 16.6 in Asia and early Europe (talk 800mln). Shorter dated risk reversals also active - 2wk 25d @ 2.15 JPY calls on size. Gamma trading throughout the day saw plenty of 1wk strikes from 114.50 (10.75) through 116.10"s paid in the high 9.0"s late on. Differentials USD/CHF vs EUR/USD extended recent gains as CHF demand boosted the spreads - 1m out to 0.6 and 1yr active at 0.3 (CHF over). Spot EUR/CHF active either side of 1.6700. Vols just off early highs, with a big trade 3m atmf @ 4.1 (EUR 500mln). 3m 25d r/rev went through @ 0.75 EUR puts.

http://www.citywire.co.uk/News/NewsA...=1997&ea=58987


some new to read

news*

Just a few more to come...

"Large U.S. banks and brokerages will suffer additional writedowns of more than $10 billion in the fourth quarter as deteriorating credit trends continue, a Deutsche Bank analyst said."

im going to bed now.. still open my trade to next week cos i belief the trend still bulllish.

bye all.

Moe, you lucky you dont have to kiss your own ass but ask the black girl to kiss it for you

Hey, I thot u hit the hay? Hmm, so that means more bad news for the dollar ... wat time was that news released?

dollar taking another hit.

Gold $800 already.

Looking like momentum funds activity...

GBP/USD: Still Bid; Barriers at 2.0900 Targeted San Francisco, Nov. 2. Regardless of USD bearish sentiment, the persistent gains in EUR and GBP continue to smack of a larger shift into a currency basket and away from the USD peg which would account for the continued fresh record highs in both Cable and Euro. Cable is at 2.0875 and back at session highs with the market targeting a barrier option at 2.0900. Ostensibly, the market is also keen to take out 1.4536 on EUR/USD in the process as well. A bounce back in GBP/JPY, as US stocks pare morning losses, has helped the gains with GBP/JPY now at 239.62. Resistance is eyed at 240.25/30, a break of which targets another move above 241.00 to recent highs near 241.35/40. A bank recommendation to short the cross emerged today, which could see the market short if the cross and GBP/USD continues to rally, adding to upside momentum.